News

    Economy Front and Center at Davos World Economic Forum

    The Global Financial Crisis will take center stage at the annual World Economic Forum in Davos, Switzerland.  More than 2,500 participants from 96 countries will convene in this small Alpine village from January 28 to February 1 to search for ways to stabilize and re-launch the global economy. 

    As in previous years, some of the world's most powerful political and business leaders will brush shoulders in Davos and discuss weighty matters.  But, the glitter and glamour that have characterized previous meetings will be gone this year.

    Celebrities will not attend forum

    To reflect the sober atmosphere of a world in crisis, no "show business" celebrities will be coming.  The World Economic Forum's Head of Programming, Lee Howell, says even the perennial favorite, Bono of the popular rock group U2, will not be making his annual pilgrimage.

    "And, on Bono, just to tell you, he does actually have a day job," said Howell. "And, he has told us that he is finishing his album, so he will not be coming." 

    But, many other important personalities will be there.  This year a record 41 heads of states and governments will be coming, including Chinese Premier, Wen Jiabao, Russian Prime Minister, Vladimir Putin, and the Prime Minister of Kenya, Raila Odinga.

    Forum founder says this is most crucial gathering

    To emphasize the economic focus, 60 percent of Forum participants are business leaders.  Founder and Chairman of the Forum, Klaus Schwab, calls this one of the most crucial gatherings in the organization's 39 year history.  He says the global financial crisis is unprecedented in scope and should be seen as a wake-up call that changes need to be made to global institutions, systems and ways of thinking.

    "A system's crisis means also, that it is a transformational crisis," said Schwab. "We cannot just use the normal remedies to come out.   We have to change or adapt the system.  And, finally, I would say it is a confidence crisis.  I would say, we never will move out of the crisis if we do not re-establish confidence, which means we have to establish signposts for the future."  

    Gathering plans to discuss global warming

    But, the Forum will be dealing with other topics as well.  Organizers note there are dozens of global risks that threaten the prosperity and well being of people and must be addressed.  One of the most serious, they say, is that of global warming.

    Forum Managing Director, Richard Samans, says private and public sector participants will discuss ways to put together a long-term policy to stabilize carbon emissions and make the post-Kyoto framework more achievable.

    "In particular, we will be focusing on the investment environment and technology environment for low carbon energy investment in developing countries," said Richard Samans. "This is an absolutely crucial part of the success of the negotiations because one needs to get an entirely global engagement in the new framework that includes emerging market countries as well as developed countries." 

    A number of heavyweights from the new Obama administration will be coming to Davos.  Among those will be Director of the National Economic Council, Lawrence Summers and U.S. National Security Adviser-designate, James Jones, Jr. 

    There also will be a large sprinkling of U.S. Congressional Representatives and annual Forum political favorite, former U.S. President Bill Clinton.

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Brexit Vote Plunges Global Markets Into Unchartered Territoryi
    X
    June 24, 2016 9:38 PM
    British voters plunged global markets into unknown territory after they voted Thursday to leave the European Union. The results of the Brexit vote, the term coined to describe the referendum, caught many off guard. Analysts say the resulting volatility could last for weeks, perhaps longer. Mil Arcega reports.
    Video

    Video Brexit Vote Plunges Global Markets Into Unchartered Territory

    British voters plunged global markets into unknown territory after they voted Thursday to leave the European Union. The results of the Brexit vote, the term coined to describe the referendum, caught many off guard. Analysts say the resulting volatility could last for weeks, perhaps longer. Mil Arcega reports.
    Video

    Video Orlando Shooting Changes Debate on Gun Control

    It’s been nearly two weeks since the largest mass shooting ever in the United States. Despite public calls for tighter gun control laws, Congress is at an impasse. Democratic lawmakers resorted to a 1960s civil rights tactic to portray their frustration. VOA’s Carolyn Presutti explains how the Orlando, Florida shooting is changing the debate.
    Video

    Video Tunisian Fishing Town Searches for Jobs, Local Development Solutions

    As the European Union tries to come to grips with its migrant crisis, some newcomers are leaving voluntarily. But those returning to their home countries face an uncertain future.  Five years after Tunisia's revolution, the tiny North African country is struggling with unrest, soaring unemployment and plummeting growth. From the southern Tunisian fishing town of Zarzis, Lisa Bryant takes a look for VOA at a search for local solutions.
    Video

    Video 'American Troops' in Russia Despite Tensions

    Historic battle re-enactment is a niche hobby with a fair number of adherents in Russia where past military victories are played-up by the Kremlin as a show of national strength. But, one group of World War II re-enactors in Moscow has the rare distinction of choosing to play western ally troops. VOA's Daniel Schearf explains.
    Video

    Video Experts: Very Few Killed in US Gun Violence Are Victims of Mass Shootings

    The deadly shooting at a Florida nightclub has reignited the debate in the U.S. over gun control. Although Congress doesn't provide government health agencies funds to study gun violence, public health experts say private research has helped them learn some things about the issue. VOA's Carol Pearson reports.
    Video

    Video Trump Unleashes Broadside Against Clinton to Try to Ease GOP Doubts

    Recent public opinion polls show Republican Donald Trump slipping behind Democrat Hillary Clinton in the presidential election matchup for November. Trump trails her both in fundraising and campaign organization, but he's intensifying his attacks on the former secretary of state. VOA National Correspondent Jim Malone reports.
    Video

    Video Muslim American Mayor Calls for Tolerance

    Syrian-born Mohamed Khairullah describes himself as "an American mayor who happens to be Muslim." As the three-term mayor of Prospect Park, New Jersey, he believes his town of 6,000 is an example of how ethnicity and religious beliefs should not determine a community's leadership. Ramon Taylor has this report from Prospect Park.
    Video

    Video Internal Rifts Over Syria Policy Could Be Headache for Next US President

    With the Obama administration showing little outward enthusiasm for adopting a more robust Syria policy, there is a strong likelihood that the internal discontent expressed by State Department employees will roll over to the next administration. VOA State Department correspondent Pam Dockins reports.
    Video

    Video Senegal to Park Colorful ‘Cars Rapide’ Permanently

    Brightly painted cars rapide are a hallmark of Dakar, offering residents a cheap way to get around the capital city since 1976. But the privately owned minibuses are scheduled to be parked for good in late 2018, as Ricci Shryock reports for VOA.
    Video

    Video Florida Gets $1 Million in Emergency Government Funding for Orlando

    The U.S. government has granted $1 million in emergency funding to the state of Florida to cover the costs linked to the June 12 massacre in Orlando. U.S. Attorney General Loretta Lynch announced the grant Tuesday in Orlando, where she met with survivors of the shooting attack that killed 49 people. Zlatica Hoke reports.
    Video

    Video How to Print Impossible Shapes with Metal

    3-D printing with metals is rapidly becoming more advanced. As printers become more affordable, the industry is partnering with universities to refine processes for manufacturing previously impossible things. A new 3-D printing lab aims to bring the new technology closer to everyday use. VOA's George Putic reports.
    Video

    Video Big Somali Community in Minnesota Observes Muslim Religious Feast

    Ramadan is widely observed in the north central US state of Minnesota, which a large Muslim community calls home. VOA Somali service reporter Mohmud Masadde files this report from Minneapolis, the state's biggest city.

    Special Report

    Adrift The Invisible African Diaspora